USDCAD Higher
Trying USDCAD higher here.
Decent double bottom on the pair so far.
BoC meeting was dovish last week, i'm also seeing a lot of people talking about canadian economy worries and especially housing, while this may not affect the CAD too much i think it should still have somewhat of an impact. We've been moving lower on the pair due to fed pause/pivot narrative and i think this changes this week as there was a piece from Nick Timiraos over the weekend talking about how terminal rates could be higher than expected. I imagine quite a lot of people went short over the past week or two on the fed pause story so this should help the pair move higher.
correlations are suggesting higher, rate differentials are moving higher, us yields are a little higher, copper and other commodities are still moving lower which is not great for CAD and US30Y-US05Y is moving lower again which i think means USD could strengthen.
Not trading/investment advise, feedback welcome!
Decent double bottom on the pair so far.
BoC meeting was dovish last week, i'm also seeing a lot of people talking about canadian economy worries and especially housing, while this may not affect the CAD too much i think it should still have somewhat of an impact. We've been moving lower on the pair due to fed pause/pivot narrative and i think this changes this week as there was a piece from Nick Timiraos over the weekend talking about how terminal rates could be higher than expected. I imagine quite a lot of people went short over the past week or two on the fed pause story so this should help the pair move higher.
correlations are suggesting higher, rate differentials are moving higher, us yields are a little higher, copper and other commodities are still moving lower which is not great for CAD and US30Y-US05Y is moving lower again which i think means USD could strengthen.
Not trading/investment advise, feedback welcome!
註釋
entering again at 1.3565, just short term as i think the move lower overnight doesn't quite add up but will take out short if it continues lower註釋
entered again at 1.3543 and came out of the second trade at breakeven註釋
will be taking profit on initial trade at breakeven if we hit it註釋
moving stop loss to 1.3543註釋
moving take profit to 1.37884
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